Catalonia could formally declare its independence from Spain on Thursday, should the Spanish government in Madrid rescind the regions’ autonomy, Catalan president Carles Puigdemont said, according to a report by Reuters. The Spanish government set a deadline for Thursday to resolve the domestic political conflict caused by Catalonia’s independence referendum in which residents voted overwhelmingly for secession amid low voter turnout. Following the vote Puigdemont refrained from formally declaring independence in favor of dialogue with Madrid. It would take three to five days for Catalonia’s autonomy to get suspended after a decision in Madrid, the report said. The political turmoil is the focal point for currency traders who are assessing the overall health of the eurozone’s shared currency. The euro last bought $1.1793, compared with $1.1766 late Tuesday.
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